Oil States International Inc
NYSE:OIS
Oil States International Inc
Oil States International, Inc. engages in the provision of manufactured products and services used in the drilling, completion, subsea, production and infrastructure sectors of the oil and natural gas industry, as well as in the industrial and military sectors. The company is headquartered in Houston, Texas and currently employs 2,373 full-time employees. The company went IPO on 2001-02-09. The firm operates through three business segments: Offshore/Manufactured Products, Downhole Technologies and Well Site Services. The Company’s Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations. The Well Site Services segment provides a range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle.
Oil States International, Inc. engages in the provision of manufactured products and services used in the drilling, completion, subsea, production and infrastructure sectors of the oil and natural gas industry, as well as in the industrial and military sectors. The company is headquartered in Houston, Texas and currently employs 2,373 full-time employees. The company went IPO on 2001-02-09. The firm operates through three business segments: Offshore/Manufactured Products, Downhole Technologies and Well Site Services. The Company’s Offshore/Manufactured Products segment designs, manufactures and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle and other products. The Downhole Technologies segment provides oil and gas perforation systems and downhole tools in support of completion, intervention, wireline and well abandonment operations. The Well Site Services segment provides a range of equipment and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle.
Strong Quarter: Oil States delivered strong Q4 results, with adjusted EBITDA and cash flow from operations both exceeding prior guidance.
Cash Generation: Generated $50 million in Q4 operating cash flow, used to retire debt, ending the year with net cash exceeding debt by $15 million.
Backlog Growth: Backlog reached $435 million, the highest since 2015, with a quarterly book-to-bill ratio of 1.3x, indicating continued strong demand in offshore and international markets.
Margin Expansion: Completion & Production Services and Downhole Technologies segments saw improved EBITDA margins after restructuring and exiting low-margin U.S. land operations.
2026 Outlook: Management guided for 2026 revenue of $680–700 million and EBITDA of $90–95 million, both up meaningfully year-over-year.
Shareholder Returns: Company remains focused on share repurchases, with $17 million of stock bought back in 2025 and more planned post debt repayment.
Strategic Focus: Continued pivot toward differentiated offshore and international markets, supported by technology launches and favorable macro trends.
